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FedEx Soars After Hiking Dividend, Working Out Board Deal With D.E. Shaw

Seeking Alpha2022-06-14

FedEx Corporation (NYSE:FDX) jumped in early trading on Tuesday after firing off a quarterly dividend payout increase to $1.15 per share from $0.75.

The company also added two additions to the board as part of a cooperation agreement with D.E. Shaw. A third independent director mutually agreed upon by FDX and the D. E. Shaw group will be added to the board at a later date. Under the terms of the cooperation agreement, D.E. Shaw has agreed to certain customary voting and standstill provisions.

FedEx (FDX) said it looks forward to sharing more details on its strategy and long-term objectives at the investor day event scheduled for later this month.

Shares of FedEx (FDX) rose 8.47% premarket to $218.00 in premarket action on Tuesday.

FedEx (FDX) is due to report earnings on June 23.

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Comment5

  • WLtan
    ·2022-06-14
    Great
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  • SJ嘉
    ·2022-06-14
    Thanks 
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  • Young Young
    ·2022-06-14
    Some good news at least
    Reply
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  • lololol13
    ·2022-06-14
    Ok
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  • ZiXian
    ·2022-06-14
    Nice
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